Problem: Twenty-four 4-inch wide square posts are evenly spaced with 5 feet between adjacent posts to enclose a square field, as shown. What is the outer perimeter, in feet, of the fence? Express your answer as a mixed number. [asy]
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path[] todraw = (1,9)--(9,9)--(9,1) ^^ (8,9)--(8,8)--(9,8) ^^ (5,9)--(5,8)--(6,8)--(6,9) ^^ (9,5)--(8,5)--(8,6)--(9,6) ^^ (8,8.5)--(6,8.5) ^^ (8.5,8)--(8.5,6) ^^ (5,8.5)--(4,8.5) ^^ (8.5,5)--(8.5,4);
path[] tofill = Circle((1.3,8.5),.15) ^^ Circle((2.1,8.5),.15) ^^ Circle((2.9,8.5),.15) ^^ Circle((8.5,1.3),.15) ^^ Circle((8.5,2.1),.15) ^^ Circle((8.5,2.9),.15);

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[/asy]
Explanation: There are 20 square posts which are not on a corner, so there are $20/4=5$ square posts on each side, not including the corner posts.  Including the corner posts, there are 7 posts on a side, which means that there are 6 five-foot gaps between posts.  Altogether the length of a side is $7\left(\frac{1}{3}\right)+6(5)=32\frac{1}{3}$ feet.  The perimeter of the square is four times the side length, so the perimeter is $4\cdot 32\frac{1}{3}=\boxed{129\frac{1}{3}}$ feet.